At Bellomo & Associates, one of the biggest surprises we see in families is just how unprepared many older adults are for the reality of long-term care. It’s understandable. Most of us want to believe we won’t need it, or that Medicare will take care of everything. But the truth is much more complicated.
Research shows that about 1 in 7 adults over the age of 65 will eventually need help with daily activities like bathing, dressing, or eating. This kind of support is what we call long-term care. And yet, too many people underestimate their chances of needing it, or assume it’s something to worry about “later.” Unfortunately, waiting often leaves families caught off guard when a crisis hits.
Common Misconceptions About Long-Term Care
Recent surveys show just how unprepared many adults are:
- Less than half of adults over 50 believe they’ll ever need long-term care.
- Only about one-quarter have named a potential caregiver or put a medical power of attorney in place.
- Just 11% have purchased long-term care insurance.
- Nearly two-thirds mistakenly believe that Medicare will pay for permanent nursing home care.
That last one is especially concerning. Medicare was never designed to cover long-term custodial care. It may help with short-term skilled nursing care after a hospital stay, but it will not cover permanent nursing home costs.
Medicaid, on the other hand, can cover these expenses—but only if you meet very strict income and asset requirements. Without careful planning, families often find themselves needing to “spend down” what they’ve worked so hard to save to qualify.
Why Early Planning Matters
Waiting until a health crisis forces the issue leaves families scrambling emotionally, legally, and financially. Planning, on the other hand, gives you options and peace of mind. With the right strategies in place, you can:
- Protect your home and savings from being lost to care costs
- Qualify for Medicaid without last-minute spend down stress
- Put the right powers of attorney in place so trusted loved ones can step in if needed
- Have open, guided conversations with your family about your wishes before a crisis occurs
How We Can Help
We understand how difficult it is to picture needing help with daily life after being independent for so long. That’s why we approach long-term care planning with compassion, honesty, and realistic solutions. Whether it’s reviewing your options for Medicaid eligibility, setting up powers of attorney, or exploring long-term care insurance, we’ll walk beside you every step of the way.
Long-term care planning is one of those things that feels easy to put off—until it’s too late. The earlier you prepare, the more control you’ll have over your care, your finances, and your family’s future.
If you’re ready to take that first step, we’d love to help you start the conversation. Register for a Workshop
